Tyfone finds partner for entry into Latin American market with mobile banking, payments

Dec. 13, 2012

Tyfone is expanding into Latin America through a deal with Protege Sistemas of Brazil (operating as Rede Protege and in partnership with Quality Administradora & Investimentos) to bring its solutions for mobile banking, mobile wallet and mobile ticketing for mass transit to Brazil and Latin America.

Protege Sistemas is a provider of electronic transaction and transit ticketing services. The company provides transaction processing services for São Paulo Metro.

Tyfone, based in Portland, Ore., provides mobile banking, mobile payments and mobile identity services. According to company CEO Dr. Siva Narandra, expanding into Latin America gives Tyfone an opportunity to shape the mobile financial services of the entire region.

"Expanding our partnerships to Brazil, especially in transit, is an important step in Tyfone’s global growth strategy," Narandra said. "We look forward to working with the well-established and highly seasoned team at Protege Sistemas to bring our full product line to market in Brazil and Latin America."

Tyfone will be bringing its entire iCashe solution to the Latin American market. The suite includes mobile banking, a patented smartcard-based identity management tool for mobile security, and mobile payments with and without NFC.

Protege Sistemas and Tyfone will start the Brazilian rollout under the iCashe brand, beginning with mobile ticketing and a mobile banking solution that includes bill payment and remote deposit capture. Future product offerings will include debit, credit and loyalty transactions, plus secure ID management and contactless payments in-store, the companies said.